Sheikh Hamdan emphasized the real estate sector’s role in driving Dubai’s growth and global investment appeal
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, reviewed the operations of the Dubai Land Department (DLD) and the progress of the Dubai Real Estate Sector Strategy 2033. The strategy aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to position Dubai as a global economic hub and a premier destination for real estate investment.
Sheikh Hamdan highlighted the real estate sector’s vital role as a key economic pillar, reflecting Dubai’s rapid growth and global appeal for businesses, investors, and talent. He emphasised the need for expanded real estate projects to support the emirate’s robust economic momentum and attract more investors through a secure investment environment underpinned by strong laws and regulations.
During the meeting, His Excellency Marwan Ahmed bin Ghalita, Director General of DLD, presented key initiatives aligned with the Dubai Economic Agenda D33, which aims to position Dubai among the top three urban economies globally. These initiatives include leveraging advanced technologies, fostering innovation, and enhancing investor experiences.
As of November 2024, Dubai recorded 188,000 real estate transactions valued at AED625 billion, a 38% rise in volume and a 23% increase in value compared to 2023. Property sales reached AED437 billion, reflecting a 33% growth, demonstrating the sector’s remarkable momentum.